European Car Industry: Carmaker Porsche looks back on record year

German luxury carmaker Porsche has said that in 2012 it experienced the most successful year in all of the company's history. Sales and revenues were reported up sharply even in the troubled European market. 

Porsche reported Friday that strong demand for luxury vehicles in Asia and the US as well as the launch of new models, has helped the company secure a 22.3-percent rise in sales for 2012.

"Last year was the most successful year in the history of our company," Porsche Chief Executive Matthias Müller told reporters at an annual news conference in Stuttgart.

The auto maker, which became a part of Germany's Volkswagen Group last year, announced its 2012 operating profit jumped by 19.3 percent to 2.44 billion euros ($3.2 billion), with its net profit coming in at 1.84 billion euros. Even in crisis-stricken Europe, Porsche managed to log an 8-percent rise in sales.

Read more: Carmaker Porsche looks back on record year | Business | DW.DE | 15.03.2013